CurAegis Technologies Inc (fka CRGS)

[Leitrim]

There will be a lot..
for Jim to address at this Meeting whether or not there are any deals to talk about or not..He could talk for hours about the state of the Domestic and World Auto Market alone-..Bullet points from recent Automotive Digest...
* Survival of US Automakers Dependent on Tough Economy, Tougher Choices
* Detroit-3 survival dependent on their ability to reinvent themselves
* Also could depend on extension of controversial government bailout
* Much will depend on expected federal "car czar" who would oversee bailout
* US auto industry accounts for 13% of US manufacturing jobs
* Bankruptcy may be only salvation for GM and Chrysler
* Concern that Ch 11 may turn into Ch 7 liquidation as consumers abandon brand

Significance
*Automakers desperately need to restructure bond dept and UAW labor costs
*UAW workers cost $71/hr salary and benefits compared to $49 for nonunionized counterparts
*Retirees, vacations, layoff benefits, health care account for most of difference
*US sales need to hit 12.5M w/ small cars being profitable for GM to break even
*Chrysler needs quality improvement which Ford and GM have achieved
*Higher gas taxes may be needed to keep consumers buying small cars